Mississauga Real Estate, Homes, TREB & MLS Blog by Mark Argentino: May 2009

Sunday, May 31, 2009

When selling should you list furniture items for sale?

Some of my sellers want to tell the buyers that they wish to sell furniture in the house when they list their house for sale.

‬‪The issue of the furniture is one we come across from time to time. It is my belief that we sell the house first and then give the buyer an itemized list of furniture etc. with prices and then the buyer can decide what they may or may not want.

Again, a 'normal' buyer most likely would look negatively upon a seller who offers their furniture upfront as this may again indicate desperation, marital problems, lack of funds by the seller or some other negative consequence to your sale or price.‬‪

Sent from my BlackBerry device on the Rogers Wireless Network

Saturday, May 30, 2009

When Selling should you tell people you are moving out of town?

This is a question that I receive from some of my sellers

There are mostly negative aspects of stating you are moving out of town after your closing or out of the province or even worse overseas.

In my experience, it is very negative to mention that you are moving far away on the listing or to even tell the buyer this fact. The buyer would most likely become very nervous knowing you are moving out of the country and would worry about the condition of the unit and removal of any items and how they would possibly remedy any unforeseen problems after the closing date if you left the country. ‬‪ ‬‪

Also, moving out of the country can be interpreted as 'the owner is desperate and must sell" and this could negatively impact your sale price. Thus, I can only see a negative impact on your sale if you mention this anywhere or anytime.‬‪

I hope this helps.‬‪ ‬‪

Thank you,‬‪ Mark‬‪

Friday, May 29, 2009

mortgage rates may be increasing shortly.

Recent bond market shows that fixed rates might be on rise soon. Thus you
may wish to get a pre-approval to lock the rate.

The followings are the best rates I have recently seen.

5-year variable at P+0.4% (2.65% right now.) This is a new promotion,
available for pre-approval.

3-year fixed at 3.15%, Available for pre-approval (might be lower to 3.05%
when finalized dpending upon variables in transaction)

5-year fixed at 3.41%, not available for pre-approval.

My suggestion: Get a pre-approval for 3 year fixed or 5 year variable right
away.

I hope this finds you Happy and Healthy!

All the Best!

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

Friday, May 22, 2009

Public Open houses - are they still effective?

Back in the 80's and 90's Public Open houses in the Mississauga and GTA were a very hot commodity. Agents loved to sit at an open house on a Saturday or Sunday because quite frequently the property would sell from a purchaser who walked into the open house. The odds of selling the property from the open house were about 1 in 20. This has dramatically changed lately.

Open houses are not necessarily the best method to sell a property in our current marketplace. Agents like to do open houses in an attempt to try and pick up a buyer client, and occasionally the property sells from the open house.

Statistics show about 1 in 100 to 1 in 50 properties may sell through open house, but you never know, so they do work sometimes. The reason they are not as effective as they used to be is that most buyers are working with an agent and are being emailed all new listings or the buyer can find all the listings on the internet, so the buyers, just like you with your house search, have most if not all the listings to see already on their computer including address, price, closing date and inclusions. The buyer of today is nearly completely empowered and have most of the information ahead of time compared to the buyers of the 80's.

Of course, you have to see inside a property before you can buy it, but my point is that people often prefer open houses when they are casually looking or far in advance of a purchase or for curiosity, when they are ready to purchase, they call their agent and go see the narrowed down list.

The other reason that agents do open houses is to market themselves and their services to potential listing clients. If you are a potential seller in the area of the open house, you may go to the open house to see the property and meet the agent. When that agent sells the property, you may call them to list your property with them.

These are the facts in our Mississauga real estate market regarding open houses.

Have a great weekend!

Mark

Thursday, May 21, 2009

What is the lowest possible interest rates on a 5 year mortgage?

This is a question that I often receive. Here is the full question and my
answer.
Thanks
Mark

Hello,
What is the lowest possible interest rates on a 5 year mortgage?
Before I go ahead, is there any pointers you might have?
Would you consider giving me a couple pointers?
Thank you for your help.
Susan

Hi Susan,

Thank you for your email. The interest rates that I've seen on the 5 year
rate seem to vary almost daily. The best option for you to is contact my
mortgage contact with TD Canada Trust, they are often the least expensive or
will at least match the least expensive rate on the market.

Normally, I would recommend going short on your mortgage, but the 5 year
rates (and the 3 year rates) are very good these days and almost too hard to
pass up on. This decision is one for you to make as it really depends upon
your personal situation, your ability to withstand the unknown if you go
short term and your ability to withstand and deal with the risks involved
with going short versus long term.\

My mortgage is still short term because there is still some savings between
the prime plus .8% and the fixed rates, but as soon as the prime rates
increase I will likely lock in for the long term.

Please let me know if you have other questions.

Thank you,
Mark

Tuesday, May 19, 2009

How to become a real estate agent in Ontairo

I receive many questions about how to become a real estate agent and what
are the courses required and can you take the real estate course online,
etc. I made up a few pages on my site so that this would help people.

Below is a common question that I receive.
Thanks
Mark

Hello,

My name is K and I am interested in becoming a real estate agent. I
wondered if you could help me and let me know the steps you took in order to
get to where you are?

I currently work full-time and wondered if you knew of any correspondent
courses I could take as I would have a conflicting schedule?

Thank you for your time,
K

Here is my answer:

Hello K,

Thank you for contacting me. I am guessing you have read some of the pages
on my site related to becoming a real estate agent, such as:
http://www.mississauga4sale.com/how-to-become-a-real-estate-agent-realtor.htm

Yes, you can take course 1 and 2 online, but not course 3.

You can read all about the courses from the main educator for real estate
and the organization that the governing body that certifies you to become a
Real Estate Agent OREA http://www.orea.com/

I hope this helps. If you need more information, please don't hesitate to
contact me.

Thank you,
Mark

Friday, May 15, 2009

More Interest Rate reductions -just in time for long weekend!

You will see from the chart below that the 3 and 4 year rates have dropped slightly, just .05% but at least they are going down!

As well, I have a contact with a mortgage broker who is offering 100 % FINANCING WITH 40 YEAR AMORTIZATION IS NOW AVAILABLE, IF YOU NEED IT.....(O.A.C. of course!)

I hope this finds you well.

Have a great long weekend!

Mark

TERM	POSTED	BEST Found RATES*
6 Month	4.75%	4.25%
1 Year	3.90%	2.90%
2 Year	4.05%	3.05%
3 Year	4.15%	3.15%
4 Year	4.84%	3.69%
5 Year	5.25%	3.54%
7 Year	6.60%	4.95%
10 Year	6.70%	5.25%
Variable Rate		2.95%
Prime Rate		2.25%

* Rates may vary and are subject to change without notice OAC.
Rates Last Updated: Thursday, May 14, 2009

I hope this finds you Happy and Healthy!

All the Best!

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS Newsletter
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
2 FAX 905-828-2829 ÈCELL 416-520-1577
› E-MAIL : mailto:mark@mississauga4sale.com?subject=Mississauga
Website : Mississauga4Sale.com

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
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If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
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Thursday, May 14, 2009

Recent Incredible News In GTA Real Estate Market

Hello,

We've recently received some Incredible News In GTA Real Estate

The average sale price for home and condos sales in the Greater Toronto Area increased approximately 2% in April This is incredible news.

After falling approx 8% in January 2009 compared to last January, we leveled off approx 5% below February and March 2008. Now, we have climbed to a mere 3% below last year's average sale price for April which were some of the strongest numbers ever recorded by TREB.

The volume of sales increased considerably from March 2009 to 8107 sales recorded in April in the GTA.

Interest rates are at a historical low.

In many cases it's cheaper to buy than to rent.

It's a great time for move-up buyers.

It's an excellent time for first time buyers.

Click on the links to the left of this article to Homes For Sale or register for our complimentary Neighbourhood Watch Program which will instantly notify you of new listings that match your home search criteria including Bank and Distress Sales.

You may want to receive a report on what is for sale and what has sold in your area, if so, click on the Area Neighbourhood Watch Reports link and we'll send that off to you promptly.

I hope this finds you Happy and Healthy!

All the Best!

Mark

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
Power of Sales and Foreclosures
If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
See seasonal housing patterns
Would you like me to send you a 2009 Calendar?

Investment Guru explanation - "So you understand"

more of my investment guru advice and comments, Enjoy, Mark

The markets are still going up.
Or are they?
Look at these:
INTC, MSFT, DELL...
IMMR, IDTI, SKS, M, JWN...
CIEN, ADCT, JBL, EFUT...
sw.to, cls.to...
DRYS, EGLE...
Basically, many are topping,
and some are still going down.
Some never even went up for more than a 20% gain -
off their multi-year bottoms.
Some you can NEVER buy, like NT, GM and ASYT.

For some you're too late,
for others you're not.
However, at this stage it is
too risky.
Now, imagine if they were in a mutual fund.
You would never sell.

In your case I would suggest not to do anything.
Yet.

I wouldn't - and I know how to get in and out during the same day.

You want a clear up or a clear down.
When it is I will let you know.
This is neither.

Basically, at this stage you are too late to buy
and many you can't short yet (because you want them to go down -
and not hold the same level - which many still are).
Just like buying - you don't want to hold the same price forever.

It just looks like another Wall Street setup.
You should ask a financial adviser -
tell them the exact stocks and see what they tell you.
I bet it will be: Buy for the long-term.
Then ask: When do I sell?
For Intel, Microsoft and Dell I can tell you right now:
If you have not yet sold you never will.

Whatever you buy you have to sell.
What if you can't sell?

I hope this finds you Happy and Healthy!

All the Best!

Mark

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
Power of Sales and Foreclosures
If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
See seasonal housing patterns
Would you like me to send you a 2009 Calendar?

Wednesday, May 13, 2009

GTA Real Estate Marketplace May Newsletter

Welcome to my monthly real estate newsletter, this is the newsletter for the month of May 2009

Mortgage interest rates have fallen again due to the Bank of Canada lowering the rate to another record low of .25%, read more.

Our market continues to hold steady, prices are up month over month. The average price last month was higher than the previous month and the average days to sell a home is steady. This is all good news.

My observations for the Mississauga marketplace is that we continue to see that prices are firming up, meaning that they are holding steady and even rising in some areas. Moderately of course, but still, they are rising.

It will be interesting to see what the next quarter brings as the summer is typically a slow period in our market.

You are reading my May newsletter

April Resale Housing Results are Positive again!

Update on interest rates, Bank Prime rates dropped again and are at record levels of 2.5%, read more, Bank Rate

May Report

April Resale Housing Results Bring Positive News

TORONTO, May 6, 2009 - In April 2009, Greater Toronto REALTORS® reported 8,107 sales – down seven per cent from April 2008. While April sales remained lower than last year, the resale housing market gained momentum on a month-over-month basis.

The seasonally adjusted annual rate of sales in April, at 80,900, was up 26 per cent from March and up two thirds compared to January’s ten-year low

“Conditions in the resale housing market have improved markedly this spring,” according to TREB President Maureen O’Neill. “Home purchases have increased as households have taken advantage of low interest rates and slightly lower home prices.”

The average price for April transactions was $385,641 – down three per cent from last year.

“The rate of average price decline continued to diminish last month. This is due in large part to a tightening in the resale market,” stated Jason Mercer, TREB’s Senior Manager of Market Analysis. “The level of sales relative to new listings increased in April.”

I hope this finds you Happy and Healthy!

All the Best!

Mark

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
Power of Sales and Foreclosures
If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
See seasonal housing patterns
Would you like me to send you a 2009 Calendar?

Tuesday, May 12, 2009

More investment advice, if you like the stock markets!

I certainly prefer real estate for our long term investment strategies, but the stock markets also have opportunities. Here are more thoughts from my investment guru. As you can see, he's a little negative on the US economy, but has some interesting points!

Enjoy!

Mark

US$?

Let's see if the US government will be able to destroy the US$ -
once and for all.

Inflation destroys the currency.
Welkommen Weimer Deutschland.

Actually, I don't know.
The weekly (long-term) charts show this,
but the daily (monthly) do not.
But I can hope.
We've all been hoping for years -
we even have the Bush billion banknotes printed.

The good news:
You don't need to do anything to benefit from this,
just don't live in USA.
However, it does look that Canada and Switzerland are best positioned to benefit from this.
Caution: Don't buy gold/silver.
If you got it good - don't buy more.

It looks like the final attempt of the US administration -
now or never. Now is the best time ever.

I am sure nobody would be surprised.
Not even the Americans - they will have to welcome it as a necessary evil.

The FDPIX (Falling US$) is very strong here at the bottom.
Remember 2007?
Well, this could get better:
http://www.321gold.com/editorials/schiff/schiff051109.html

If this fails, the next attempt will not come until this Fall.
If that one fails the next will be in January 2010.
and the next...
Let's just get it over with - no point postponing the inevitable.

Monday, May 11, 2009

My investment Guru updated thoughts

My investment Guru updated his prognosis from the other day and I thought I would share it with you. Enjoy!
Mark

Hope this helps:

Rule No. 1: If you don't know what to do - do nothing.

This is what I would do:

short DNDN, efut, calm - stay short itmn...

wait for these to drop more: soap, sks, m, jwn, spls, jcp, drl...

wait for a correction in these: lvs, byd, mgm, wynn (the Vegas play)

wait for a correction in airlines (direction is not clear)

many techs...

get out of financials...

But then, as you can tell, I do not care much about mutual funds -

and I can easily adjust whenever necessary.

This is the problem: March 9, 2009 was a fantastic buying opportunity -

however some are starting to fall....

but you can't get in (too high).

Most stocks you can play both ways - up or down.

However, many you can NEVER buy: GM, ASYT...Bombay, SharperImage, NT...

ers, peix, desc...etc...etc...ENRON, WCOMM...and other scams...

Actually, it is really simple:

If there is a market correction - buy.

If it goes much higher - short with options.

Wouldn't you like to have shorted everything in October 2007?

Or 2000?

Guess who usually wins in the LONG-RUN.

I hope this finds you Happy and Healthy!

All the Best!

Mark

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
Power of Sales and Foreclosures
If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
See seasonal housing patterns
Would you like me to send you a 2009 Calendar?

Sunday, May 10, 2009

Correction in stock market predictions!

This is an update/correction to my investment guru's recommendations, Enjoy!

Mark

C$, oil and $spx are holding very well (weekly chart).
It is very likely that they will try to destroy the US$ (to create inflation).
Remember last time?

However, for some reason, gold/silver do not show much upside.
But, oil does.
Things change.

What would I do now?
Hold C$.
Hold some oil.
Hold some financials.
For now - eventually you got to sell.
But, the charts don't show it yet.

Very confusing situation: the weekly charts (long-term) show more upside,
but the daily charts (short-term) show a sell.

It could be another trap - too early to tell.

With stocks it is easier - some you can short now, some you hold,
some you buy, some you sell, some you avoid.

Mutual funds are different - because of 1-10 stocks you can lose all gains.

Whatever you do be careful.
Usually the signal you use is: if analysts recommend a stock that has gone up significantly get out!

Great advice!

I hope this finds you Happy and Healthy!

All the Best!

Mark

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
Power of Sales and Foreclosures
If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
See seasonal housing patterns
Would you like me to send you a 2009 Calendar?

Friday, May 08, 2009

Mortage Interest rate update for GTA

You can take advantage of today's historically low interest rates.

There's no better time to consider purchasing your first home, renewing your mortgage, or planning that home renovation you've been thinking of.

I wish you all the best and have a great Mother's Day weekend!

Mark

TERM	POSTED	Current Best RATES*
6 Month	4.75%	4.25%
1 Year	3.9%	2.9%
2 Year	4.05%	3.05%
3 Year	4.15%	3.15%
4 Year	4.84%	3.79%
5 Year	5.25%	3.59%
7 Year	6.6%	4.95%
10 Year	6.7%	5.25%
Variable Rate		3%
Prime Rate		2.25%

* Rates may vary and are subject to change without notice.
Rates Last Updated: Thursday, May 07, 2009

I hope this finds you Happy and Healthy!

All the Best!

Mark

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
Power of Sales and Foreclosures
If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
See seasonal housing patterns
Would you like me to send you a 2009 Calendar?

Thursday, May 07, 2009

TREB report sales volumes down but prices up!

The monthly stats are out for April and the housing market is showing good signs of momentum. Month over month the average price is up significantly for all of the GTA, from $362k in March to $385k in April

Greater Toronto REALTORS® report 8,107 Resales in April

May 6, 2009 -- In April 2009, Greater Toronto REALTORS® reported 8,107 sales – down seven per cent from April 2008. While April sales remained lower than last year, the resale housing market gained momentum on a month-over-month basis. The seasonally adjusted annual rate of sales in April, at 80,900, was up 26 per cent from March and up two thirds compared to January’s ten-year low.

Thank you,
Mark

Do you need a degree to sell real estate in Ontario?

I receive questions from people who are thinking of becoming a real estate agent. Here is one below with my answer.

Hello my name is AC and I live in Prince Edward County. I was googleing and I came across your web page and I have a few questions as I am considering real estate a career. First, do you need a degree in order to legally sell in Ontario? Second, what do you think is the most legitimate way to receive your license?

If you can find the time to reply I would really appreciate it.

Thanks

AC

Hi AC,

You live in a beautiful part of the Province, just gorgeous!

You do not need any degree obtain your license, but you must have your real estate license to sell real estate in Ontario unless you are working for a builder or a corporation that buys or sells real estate.

The best place to begin is http://www.orea.com/index.cfm/ci_id/10346/la_id/1.htm and this will show you all the necessary steps on becoming a real estate license.

I wish you the best in all your endeavors!

Mark

Wednesday, May 06, 2009

Financial Markets, Real Estate and the Dollar

This is a snapshot by my investment guru, let's see how much of this comes to pass.

Do you agree with anything below? Disagree?

Mark

Synopsis of the Financial Markets, Real Estate and the Canadian and US Dollar

As the markets go down,
so does OIL and C$.
Just watch the charts.

Same old, same old...
US$ up, everything down,
and then the reverse...

US$ down - to create inflation (that's why OIL goes up)
to get out of the housing mess created by US banks.
However, China comes and doesn't allow US$ to go down by much.
The stock market comes to a halt.

US$ up - recession continues.

Today is the turning point - as bank stress tests come...
Chart shows TOP ($spx - 500 leading US companies).
Closely mimicked by $tsx (but not the same - due to the weighting of gold stocks).

Canadian mutual funds are down (and will stay down in the long-term) due to the heavy weighting in energy.
Canadian mutual fund managers bet against the US$ - they will NEVER recover.
Some have already left the industry.
However, if you go for swing trading you will not only recoup all your loses but pretty much make more.
With the right stocks - in the US (in US$).
Not mutual funds.
NO "investing for the long-term".

If you want to invest for the long-term just hold C$ (nothing else).
I don't see 1:1 again, nor gold to $1000 nor OIL $100 - remember that - that was inflation.
There is no US$ devaluation and except for these 1-2 month bounces there is nothing else the US Federal Reserve can do (they are bankrupt).
They have no money - have to print or borrow from China.
And when they print $ they don't create jobs - they just give it to Wall Street.
The FED can't lower rates any more (they are zero).
32 US banks have gone bankrupt in 2009. (regardless of the stock market games).
Unemployment will be even higher this summer (the official one) -
not it is at 26 year high.
That's when you buy - on OFFICIAL BAD news.
You sell on good (are there any?).

Follow GM the next couple od days - don't be a collector
(the price should go up to $138: 100-1
reverse stock split - like NT).
Most likely GM will not be around in a month from now - the best scenario is a government-run company.

I can't take the credit for writing the above synopsis, but it's very interesting read.

So, what do you think of the above synopsis, agree, disagree, or something else?

I hope this finds you Happy and Healthy!

All the Best!

Mark

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
Power of Sales and Foreclosures
If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
See seasonal housing patterns
Would you like me to send you a 2009 Calendar?

Monday, May 04, 2009

Good time to trade up in real estate?

I had another email commenting about the current real estate slump we are in and whether it's a good time to trade up or not. This is my current view of the real estate market in Mississauga and the GTA.

This person bought 2.5 years ago and expected to make some money on his purchase. He also wants to sell his current condo that is worth about $160k and trade up to a larger semi for about $300k. This was my response.

I understand how you feel about buying and holding and expecting to make money. Since 1995 this philosophy worked well, until the current economic slump. I've had other clients in similar situations as you. What I have found is that you will benefit by the downturn since the larger more expensive properties have dropped much more compared to your condo, thus the difference is far less than it was 2 years ago.

The market is typically good up until mid June and then slows again for the summer, until about middle/end of August. Thus, if you want to sell this spring, the sooner the better, otherwise you may wish to wait until late summer. Of course these are historical trends and each year could be different. With that said, we expect this year to be similar to previous years, just not as large of a spike in the spring. See this graph: http://www.mississauga4sale.com/TREBavg1995date.htm

Thank you,

Mark

Sunday, May 31, 2009

Saturday, May 30, 2009

Friday, May 29, 2009

Friday, May 22, 2009

Thursday, May 21, 2009

Tuesday, May 19, 2009

Friday, May 15, 2009

Thursday, May 14, 2009

Wednesday, May 13, 2009

Tuesday, May 12, 2009

Monday, May 11, 2009

Sunday, May 10, 2009

Friday, May 08, 2009

Thursday, May 07, 2009

Wednesday, May 06, 2009

Monday, May 04, 2009

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